Holding(s) in Company

NOTIFICATION OF MAJOR INTERESTS IN SHARES

1.Identity of the issuer or the underlying   Aberforth Smaller Companies Trust plc  
issuer of existing shares to which voting 
rights are attached:                                                                        
                                                                                 
2. Reason for the notification:                                                  
                                                                                 
An acquisition or disposal of voting rights  Yes                                 
                                                                                 
An acquisition or disposal of financial      N/A                                 
instruments                                                                      
 which may result in the acquisition of                                          
shares already                                                                   
 issued to which voting rights are attached                                      
                                                                                 
An event changing the breakdown of voting    N/A                                 
rights                                                                           
                                                                                 
Other (please specify):                      Transfer of voting rights           
                                                                                
                                                                                
                                                                                
3. Full name of person(s) subject to the     Investec Wealth & Investment Limited
notification                                                                     
 obligation                                                                      
                                                                                 
4. Full name of shareholder(s) (if different N/A                                 
from 3.):                                                                        
                                                                                 
5. Date of the transaction (and date on      28 August 2012                      
which the                                                                        
 threshold is crossed or reached if                                              
different):                                                                      
                                                                                 
6. Date on which issuer notified:            29 August 2012                      
                                                                                 
7. Threshold(s) that is/are crossed or       6%                                  
reached:                                                                         
                                                                                 
8. Notified details:                                                             
                                                                                 
A: Voting rights attached to shares                                              
                                                                                 
Class/type  Situation previous to the   Resulting situation after the triggering 
of          Triggering transaction      transaction                              
shares                                                                           
            Number of     Number of     Number  Number of voting  % of voting      
if possible Shares        Voting        of      rights            rights           
using the                 Rights        Shares                                   
ISIN                                                                              
CODE                                    Direct  Direct Indirect   Direct  Indirect 
                                                                                 
Ordinary    2,694,572     2,694,572                    5,756,179          6.01%    
Shares                                                                           
                                                                                 
GB000006655                                                                      
                                                                                 
 

B: Financial Instruments                                                         
                                                                                 
Resulting situation after the triggering transaction                             
                                                                                 
Type of    Expiration  Exercise/     Number of voting rights  % of voting rights 
financial  date        Conversion    that may                                    
instrument             Period/ Date  be acquired if the                          
                                     instrument is                               
                                     exercised/ converted.                       
                                                                                 
N/A        N/A         N/A           N/A                      N/A                
                                                                                 
Total (A+B)                                                                      
                                                                                 
Number of voting rights             % of voting rights                           
                                                                                 
5,756,179                           6.01%                                        
                                                                                 
9. Chain of controlled undertakings through which the voting rights and/or the   
financial instruments are effectively held, if applicable                                                 
                                                                                 
Client holdings registered in the name of Nominee companies 100% owned by        
Investec Wealth & Investment Limited.                                                             
                                                                                 
                                                                                 
                                                                                 
NB: The increase in the Nominee holding triggering this disclosure is the        
result of the integration of the Williams De Broe business with Investec Wealth 
& Investment on 28th August 2012.                                                                            
                                                                                 
Proxy Voting:                                                                    
                                                                                 
10. Name of the proxy holder:                 N/A                                
                                                                                 
11. Number of voting rights proxy holder will N/A                                
cease to hold:                                                                   
                                                                                 
12. Date on which proxy holder will cease to  N/A                                
hold voting rights:                                                                         
                                                                                 
                                                                                 
                                                                                 
13. Additional information:                   Notification using total voting    
                                              rights of 95,722,792                        
                                                                                 
14. Contact name:                             David Holland, Aberforth Partners  
                                              LLP,  Secretaries                       
                                                                                 
15. Contact telephone number                  0131-220-0733